Sec. 1. This chapter applies to the following: (1) A city having a population of more than seventy-five thousand (75,000) and less than seventy-nine thousand (79,000). (2) A city having a population of more than one hundred thousand (100,000) and less than one hundred ten thousand (110,000). (3) A city having a population of more […]
Sec. 10. As used in this chapter, “gross increment” means the aggregate amount of state gross retail and use taxes that are remitted under IC 6-2.5 by businesses operating in the district, as determined by the department under section 23 of this chapter, minus the base period amount. As added by P.L.35-1990, SEC.63.
Sec. 11. As used in this chapter, “local public improvement” means any redevelopment project or purpose of a commission or any city under this chapter or IC 36-7-14. As added by P.L.35-1990, SEC.63.
Sec. 12. As used in this chapter, “net increment” means, for a particular state fiscal year, the product of: (1) the gross increment for the state fiscal year ending in the year of the determination; multiplied by (2) the adjustment factor. As added by P.L.35-1990, SEC.63.
Sec. 13. In addition to the powers and duties set forth in any other statute, a commission, the department, and the board have the powers and duties set forth in this chapter. As added by P.L.35-1990, SEC.63.
Sec. 14. (a) Whenever a commission determines that the redevelopment and economic development of an area situated within the commission’s jurisdiction may require the establishment of a district, the commission shall cause to be assembled data sufficient to make the determinations required under section 15 of this chapter, including the following: (1) Maps and plats […]
Sec. 15. After compilation of the data required by section 14 of this chapter, the commission may adopt a resolution declaring the area described under section 14 of this chapter as a district. The commission may adopt the resolution only after finding that the completion of the redevelopment and economic development of the district will […]
Sec. 16. (a) Upon adoption of a resolution designating a district under section 15 of this chapter, the commission shall submit the resolution to the board for approval. In submitting the resolution to the board, the commission shall deliver to the board: (1) the data required under section 14 of this chapter; (2) the information […]
Sec. 17. At the hearing, which may be adjourned from time to time, the commission shall hear all persons interested in the proceedings and shall consider all written remonstrances that have been filed with the commission. As added by P.L.35-1990, SEC.63.
Sec. 18. After considering the evidence presented at the hearing, the commission shall take final action confirming, modifying and confirming, or rescinding the resolution. The action taken by the commission is final, except that an appeal may be taken under section 19 of this chapter. As added by P.L.35-1990, SEC.63.
Sec. 19. (a) A person who filed a written remonstrance with the commission under section 17 of this chapter and is aggrieved by the final action taken, may within ten (10) days after that final action, file an appeal in the office of the clerk of the circuit or superior court with a copy of […]
Sec. 2. (a) Present economic conditions in certain areas of certain cities are stagnant or deteriorating. (b) Present economic conditions in such areas are beyond remedy and control by existing regulatory processes because of the substantial public financial commitments necessary to encourage significant increases in economic activities in such areas. (c) Encouraging economic development in […]
Sec. 20. The determination of the commission to create a district under this chapter, after approval by the board, must be approved by ordinance of the legislative body of the city. As added by P.L.35-1990, SEC.63.
Sec. 21. After the approval of the creation of the district under section 20 of this chapter, the commission shall transmit to the board for delivery to the department the following: (1) A certified copy of the resolution designating the district, as confirmed by the commission. (2) A complete list of street names and the […]
Sec. 22. (a) Within sixty (60) days after receipt from the commission of the information transmitted under section 21 of this chapter the board shall do the following: (1) Request that the department determine the base period amount. The department shall certify the base period amount to the board and the board shall transmit the […]
Sec. 23. (a) Before the first business day in October of each year, the board shall require the department to calculate the net increment for the preceding state fiscal year. The department shall transmit to the board a statement as to the net increment in sufficient time to permit the board to review the calculation […]
Sec. 24. (a) The commission may issue bonds, payable in whole or in part, from money distributed from the fund to the commission, to finance a local public improvement under IC 36-7-14-25.1 or may make lease rental payments for a local public improvement under IC 36-7-14-25.2 and IC 36-7-14-25.3. The term of any bonds issued […]
Sec. 25. The board may not approve a resolution under section 16 of this chapter until the board has satisfied itself that the city in which the proposed district will be established has maximized the use of tax increment financing under IC 36-7-14 or IC 36-7-14.5 to finance public improvements within or serving the proposed […]
Sec. 26. To the extent prescribed by the board, and subject to the terms and conditions established by the board, any money credited to the credit account may be used by the commission, and, if desired by the board, irrevocably pledged by the board, to further secure bonds or a lease agreement issued or entered […]
Sec. 27. The general assembly covenants that this chapter will not be repealed or amended in a manner that will adversely affect the owner of bonds issued under this chapter. As added by P.L.35-1990, SEC.63.
